Grid Investment Must Outpace Renewables for Net Zero, BNEF Says
- Network needs to nearly double in size to reach 2050 target
- China, India could defer most replacement costs until 2035
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Global investment in power grids will need to outpace spending on renewable energy in order to achieve net-zero emissions by 2050, according to BloombergNEF’s New Energy Outlook published Tuesday.
The world will need to nearly double its grid network to 111 million kilometers (69 million miles), the researcher found — equivalent to almost three-quarters of the distance to the sun. The price tag for such an overhaul will be about $24.1 trillion, compared with $22.7 trillion in spending on renewable energy to meet the goal.